In the US financial services industry, there were 228 M&A deals announced in Q3 2023, worth a total value of $3.3bn, according to GlobalData’s Deals Database. The $936m minority acquisition of U.S. Bancorp by MUFG Bank was the industry’s largest disclosed deal. GlobalData’s Banking and Payments Industry Mergers and Acquisitions Deals by Top Themes report for Q3 2023 unveils the driving forces behind the M&A activities in the industry, providing crucial insights into trends and shifts. Buy the report here.

In value terms, M&A activity in the US decreased by 60% in Q3 2023 compared with the previous quarter’s total of $8.3bn and fell by 57% as compared to Q3 2022. Related deal volume decreased by 0.44% in Q3 2023 versus the previous quarter and was 17% lower than in Q3 2022.

The top-ranked financial advisors supporting these M&A deals in the US in Q3 2023 were Piper Sandler Companies; Waller Helms Advisors; Houlihan Lokey with 12, 10, 9 deals respectively.

The top-ranked legal advisorss supporting these M&A deals in the US Q3 2023 were Alston & Bird; Giordano, Halleran & Ciesla; Kirkland & Ellis with 25, 21, 14 deals respectively.

For further understanding of GlobalData's Banking and Payments Industry M&A Deals by Top Themes in Q3 2023 – Thematic Intelligence, buy the report here.

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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Deals Database tracks global deal activity, including mergers, acquisitions, capital raising, strategic alliances, and licensing agreements. Proprietary analysis is used to group deals into key thematic areas and granular sectors across the world’s largest industries.

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Deal type includes Acquisition, Asset transactions and Mergers.